Photos: Phoenix Suns Deandre Ayton

Phoenix Suns center Deandre Ayton scores his first basket of his NBA career against Dallas Mavericks Luka Doncic during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns center Deandre Ayton scores his first basket of his NBA career against Dallas Mavericks Luka Doncic during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Phoenix Suns Josh Jackson shoots and scores against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns Josh Jackson shoots and scores against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Phoenix Suns Deandre Ayton looks to the basket against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns Deandre Ayton looks to the basket against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Phoenix Suns Deandre Ayton during pregame warm-ups against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns Deandre Ayton during pregame warm-ups against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Phoenix Suns rookie center Deandre Ayton scores and is fouled on the play against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns rookie center Deandre Ayton scores and is fouled on the play against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Phoenix Suns Deandre Ayton during player introductions against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns Deandre Ayton during player introductions against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Phoenix Suns center Deandre Ayton during introductions against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz. Rob Schumacher/The Republic

Photos: Phoenix Suns Deandre Ayton

Phoenix Suns center Deandre Ayton during introductions against the Dallas Mavericks during the season opener at Talking Stick Resort Arena on Oct. 17, 2018, in Phoenix, Ariz.
Rob Schumacher/The Republic

Deandre Ayton of Arizona greets NBA commissioner Adam Silver after being selected as the No. 1 overall pick by the Phoenix Suns in the 2018 NBA draft in Brooklyn. Brad Penner-USA TODAY Sports

Photos: Phoenix Suns Deandre Ayton

Deandre Ayton of Arizona greets NBA commissioner Adam Silver after being selected as the No. 1 overall pick by the Phoenix Suns in the 2018 NBA draft in Brooklyn.
Brad Penner-USA TODAY Sports

Arizona Wildcats head coach Sean Miller talks to Deandre Ayton during a Dec. 18, 2017 game against North Dakota State at McKale Center. Casey Sapio-USA TODAY Sports

Photos: Phoenix Suns Deandre Ayton

Arizona Wildcats head coach Sean Miller talks to Deandre Ayton during a Dec. 18, 2017 game against North Dakota State at McKale Center.
Casey Sapio-USA TODAY Sports

Arizona forward Deandre Ayton dunks during the first half of the team's NCAA college basketball game against Washington State in Pullman, Wash., Wednesday, Jan. 31, 2018. (AP Photo/Young Kwak) Young Kwak, AP

Photos: Phoenix Suns Deandre Ayton

Arizona forward Deandre Ayton dunks during the first half of the team's NCAA college basketball game against Washington State in Pullman, Wash., Wednesday, Jan. 31, 2018. (AP Photo/Young Kwak)
Young Kwak, AP

Arizona's Deandre Ayton (13) screams after scoring and drawing a foul against ASU's De'Quon Lake (35) during the first half at McKale Center on December 30, 2017 in Tucson, Ariz. Patrick Breen/azcentral sports

Photos: Phoenix Suns Deandre Ayton

Arizona's Deandre Ayton (13) screams after scoring and drawing a foul against ASU's De'Quon Lake (35) during the first half at McKale Center on December 30, 2017 in Tucson, Ariz.
Patrick Breen/azcentral sports

Photos: Phoenix Suns Deandre Ayton

Hillcrest Prep junior DeAndre Ayton, a 7-foot-1 basketball player, is rated the No.1 player in the country. Pictured here at Hillcrest Prep in Phoenix, AZ on February 1, 2016. Patrick Breen/azcentral sports

Photos: Phoenix Suns Deandre Ayton

Hillcrest Prep junior DeAndre Ayton, a 7-foot-1 basketball player, is rated the No.1 player in the country. Pictured here at Hillcrest Prep in Phoenix, AZ on February 1, 2016.
Patrick Breen/azcentral sports

Hillcrest Prep's Marvin Bagley III (R) talks with DeAndre Ayton during an exhibition game against Phoenix Community College at Phoenix Community College in Phoenix, AZ on October 8, 2015. Patrick Breen/azcentral sports

Photos: Phoenix Suns Deandre Ayton

Hillcrest Prep's Marvin Bagley III (R) talks with DeAndre Ayton during an exhibition game against Phoenix Community College at Phoenix Community College in Phoenix, AZ on October 8, 2015.
Patrick Breen/azcentral sports

Deandre Ayton during practice Tuesday, Dec 1, 2015 in Phoenix, Ariz. Hillcrest Prep suddenly became megagiant and put under national microscope, partnering with Starshine Academy in Phoenix. David Kadlubowski/azcentral sports

Photos: Phoenix Suns Deandre Ayton

Deandre Ayton during practice Tuesday, Dec 1, 2015 in Phoenix, Ariz. Hillcrest Prep suddenly became megagiant and put under national microscope, partnering with Starshine Academy in Phoenix.
David Kadlubowski/azcentral sports

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The Phoenix City Council will vote Wednesday, Dec. 12, on a $230 million arena renovation deal that could keep the Phoenix Suns in downtown until 2042.

The National Basketball Association team has been asking the city for a new or significantly updated arena for years, but has been unable get the council to publicly consider a deal until now.

Deal details

Phoenix pays $150 million for arena renovations.

Suns pay $80 million for renovations.

After the renovation, Phoenix will pay $2 million annually for 12½ years into a new renewal and replacement fund, which will be used for future renovation needs.

Suns will pay $1 million into the new fund for 12½ years.

Suns will continue to operate and maintain the building, including booking concerts and other events.

Suns will continue to pay rent to the city (calculated as a percentage of annual proceeds).

Suns will build a new practice facility (estimated to cost $25-$50 million) somewhere in Phoenix.

Suns commit to staying in downtown through 2037 with an option to extend the lease to 2042. If they leave before 2037, they will face up to a $200 million fine.

Where is this money coming from?

The Suns and Phoenix evenly split the nearly $100 million price on the arena when it was built in the early 1990s. The city still owes about $8 million on the building.

“This is our building. It's our responsibility.”

Phoenix Mayor Thelda Williams

If the council approves the deal, Phoenix will pay for its $150 million share of the renovations through its existingSports Facilities Fund, which consists of taxes levied primarily ontourists for things like hotel room and car rentals.

The revenue from that tax was originally earmarked for the downtown arena and other tourism-related projects, but the council has discretion to allocate it to other purposes.

According to the city, Phoenix's share of the renovation will cover necessary infrastructure repairs such as plumbing updates, electrical work and roofing repairs.

The Suns will be responsible for providing other "luxury" enhancements, like suite upgrades, she said.

Renovations would occur between 2019 and 2021.

General view of the US Airways Center during the game between the Phoenix Suns against the New Orleans Hornets(Photo: Mark J. Rebilas/USA TODAY Sports)

Suns could leave if deal not approved

The Suns committed to a 40-year lease in 1992, but the agreement includes a provision for the Suns to opt out at 30 years if the building — one of the oldest in the NBA — is considered obsolete.

That could allow the Suns to leave downtown Phoenix in 2022 if there's no new agreement.

Suns owner Robert Sarver has hinted for years that he could move the team to another location in the Valley, or possibly out of state. It's unclear whether any other market has expressed serious interest in the team.

If the Suns leave, Phoenix would have to take over operations and maintenance of the building, and would still have to invest in significant infrastructure repairs if it wants to attract concerts and other events, according to the city.

City Manager Ed Zuercher said that because the city already owns the building, it has very limited options besides working with the team or letting the team leave and paying for needed repairs on its own.

Why move so fast?

Why are the Suns and Phoenix working so quickly to push through this deal? The answer is twofold.

The city is running up against a July 1 deadline. Under its original lease with the Suns, the process to determine whether the arena is obsolete (which would allow the Suns to leave in 2022) will begin this summer, unless the city and team reach a deal.

The Suns' motivation to move quickly after years of back-and-forth is likely political. The council now includes an interim mayor and two interim council members.

Gallego has said publicly that she will not support arena updates funded with taxpayer money.

"We have a number of competing priorities and tough choices we have to make if we're going to fuel our growth and build on recent progress in Phoenix. While I intend to be a partner with the Suns on the many great things they do for the city, it is not in Phoenix's best interest to invest in an arena," she said in a statement in November 2017.

With the uncertainty over who will be at the city's helm in a few months, now may be the best shot the Suns have at getting the city to foot at least part of the bill for arena upgrades.